Salford based Hydes Brewery is to open a new boutique hotel, pub and restaurant in Manchester’s Northern Quarter.
The brewery chain has acquired the Abel Heywood after receiving financial backing from the Royal Bank of Scotland, which will act as a partner in the venture. Part of the refinancing deal also allowed the brewery to acquire the Hornsmill in Chester, which is currently undergoing a redevelopment programme to align it with Hydes Brewery’s business aims.
At present, Hydes Brewery owns and operates a portfolio of 60 destinations in the North West and North Wales, with the latest acquisitions bringing staff numbers to over 500. The Abel Heywood alone created 40 local positions, with a diverse range of jobs spread among the restaurant, pub and 15 bedroom hotel.
Relationship director at the Royal Bank of Scotland, John Radcliffe, states that the brewery’s reputation played a strong role in the decision to extend finances.
He says; “We have enjoyed an excellent working partnership with the management team at Hydes Brewery over many years.
“We are pleased to extend our financial support which has allowed the Abel Heywood to come to fruition and provided the ability for further acquisitions and investment in the estate.
“Hydes is a well-known North West brand and a company we are proud to be associated with.”
In the year to the end of March, Hydes Brewery recorded a turnover of just under £18.55 million, marking a 9.4 per cent increase year on year. This is a very impressive performance given the difficulties facing many larger brands in the pub sector, and indicates that smart investments certainly play a role in the success of brands of this kind.
While the management team remains tight lipped about future potential acquisitions, managing director Chris Hopkins has hinted that Manchester will continue to play a key role in the brewery’s expansion.
He said; “Given our success over the years and our investment in the North West, the Abel Heywood is an extension of our commitment to Manchester.
“We have developed this large island site in the Northern Quarter as a high quality city centre pub with dining rooms and boutique hotel bedrooms – the site has got off to a tremendous start and has attracted very positive feedback.
“We are confident that the Abel Heywood is a great addition to Manchester’s booming Northern Quarter and a real flagship for Hydes in the city centre; we are excited about the opportunities this will bring and our contribution to the local economy in terms of employment.”